Real Estate

Festival Condos Vaughan - where’s the hype?

  • Last Updated:
  • Oct 17th, 2020 9:29 pm
Member
Jan 5, 2020
489 posts
522 upvotes
deal_with_singh wrote: Like I said at the very beginning, people thought this was expensive, but they refused to see this project for what it is and brushed it off as "just another condo".

I'm personally very curious to see how the rest of the project sells after the price hike...
I still see it as just another condo that is within walking distance to a subway station. There's nothing else special about this project.

But I guess it is the cheapest precon option that is close to a subway station and so people are just jumping on this. Is there any other precon project by a subway station that is cheaper?
Newbie
Feb 18, 2011
97 posts
23 upvotes
Are they selling north tower yet. or just taking worksheets?
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Feb 11, 2009
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YYZtoPVG wrote: Are they selling north tower yet. or just taking worksheets?
Worksheets at this stage are for agents who don't have units and just want client information...

North Tower allocations are already out...

Best part is allocations from before today are still at the old price.
Real Estate Agent, MAcc, CPA, CA
Jr. Member
Jul 16, 2020
130 posts
23 upvotes
i can see ads everywhere, does it sounds like something is going on ? either good or bad about this project?

That tells me the project is overpriced, ads trying to attract foreign investor into the market, guaranteed x.x% return...etc.
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Onlyuo wrote: i can see ads everywhere, does it sounds like something is going on ? either good or bad about this project?

That tells me the project is overpriced, ads trying to attract foreign investor into the market, guaranteed x.x% return...etc.

You’ll see ads everywhere for most preconstruction...

Brightwater, SQ1 District have just as many....

Also the regular agents are about to get their allocations after seeing the price lists today, and so they’re probably trying to get new customers for it.

Like I said in the earlier post from the morning, Menkes released the official north tower price list which looks like everyone will get access to (at a $40k price increase across the board....$67/sqft on average for a 600sqft....from the platinum launch where building 1 sold out and building 2 partially sold over just the first weekend
Real Estate Agent, MAcc, CPA, CA
Jr. Member
Jul 16, 2020
130 posts
23 upvotes
deal_with_singh wrote: You’ll see ads everywhere for most preconstruction...

Brightwater, SQ1 District have just as many....

Also the regular agents are about to get their allocations after seeing the price lists today, and so they’re probably trying to get new customers for it.

Like I said in the earlier post from the morning, Menkes released the official north tower price list which looks like everyone will get access to (at a $40k price increase across the board....$67/sqft on average for a 600sqft....from the platinum launch where building 1 sold out and building 2 partially sold over just the first weekend
I understand, when i see foreign ads like Singapore, Taiwan, Hong Kong are promoting the project. I pay more attention on it .
Sr. Member
Jun 6, 2009
513 posts
81 upvotes
Onlyuo wrote: i can see ads everywhere, does it sounds like something is going on ? either good or bad about this project?

That tells me the project is overpriced, ads trying to attract foreign investor into the market, guaranteed x.x% return...etc.
Onlyuo wrote: I understand, when i see foreign ads like Singapore, Taiwan, Hong Kong are promoting the project. I pay more attention on it .
It says right on the official north tower release "currently only accepting resident buyers" so I'm not sure where you are getting that they are trying to accept foreign buyers?
Jr. Member
Jul 16, 2020
130 posts
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cleardevil wrote: It says right on the official north tower release "currently only accepting resident buyers" so I'm not sure where you are getting that they are trying to accept foreign buyers?

This is the ad ad
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Feb 11, 2009
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Onlyuo wrote: I understand, when i see foreign ads like Singapore, Taiwan, Hong Kong are promoting the project. I pay more attention on it .
cleardevil wrote: It says right on the official north tower release "currently only accepting resident buyers" so I'm not sure where you are getting that they are trying to accept foreign buyers?
From what I know, there is a % (I believe that % is 10%) that is saved for international buyers where the builder will market the product at a far greater price than what is advertised here. That is partially why you are seeing those international ads.

More money/demand for the builder at the end of the day.
Real Estate Agent, MAcc, CPA, CA
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Feb 24, 2017
75 posts
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Is the VMC subway south entrance guaranteed to be built?

When will the festive condos be completed?
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aspiretobegreat wrote: Is the VMC subway south entrance guaranteed to be built?

When will the festive condos be completed?
If Menkes says it is, I'm going to take their word for it. They have a reputation, and aren't the type of builder to throw things around without merit.

June 2024 is the first tentative occupancy for the project.
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Oct 16, 2008
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Maple
deal_with_singh wrote: June 2024 is the first tentative occupancy for the project.
Do you know the steps/phases of occupancy/closing for condo?
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teoconca wrote: Do you know the steps/phases of occupancy/closing for condo?
Can you clarify the question? Are you saying the steps as in from who gets closing first etc.? Or do you mean the time line between interim occupancy and final closing?
Real Estate Agent, MAcc, CPA, CA
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Jun 15, 2015
183 posts
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Thornhill, ON
aspiretobegreat wrote: With the Walmart moving away from the core VMC, what will replace it?
More condos, what else. Drove by the area earlier. The traffic is horrendous for a Sunday pm. Just poor planning along that stretch of Hwy 7. We needed more low rise housing, not more condos.

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